ADJUSTMENT AND COMPROMISE OF CLAIMS AND AWARDS. The Borrower may settle any insurance claim or condemnation proceeding if the effect of the casualty or the condemnation may be remedied for $50,000 or less. If a greater sum is required, the Borrower may not settle any such claim or proceeding without the advance written consent of the Lender. If a Default exists, the Borrower may not settle any insurance claim or condemnation proceeding without the advance written consent of the Lender.
Appears in 5 contracts
Samples: Deed of Trust, Security Agreement and Fixture Filing, Future Advance Mortgage (Angeles Partners X), Deed of Trust, Security Agreement and Fixture Filing (Consolidated Capital Growth Fund)
ADJUSTMENT AND COMPROMISE OF CLAIMS AND AWARDS. The Borrower may settle any insurance claim or condemnation proceeding if the effect of the casualty or the condemnation may be remedied for Two Hundred Fifty Thousand Dollars ($50,000 250,000) or less. If a greater sum is required, the Borrower may not settle any such claim or proceeding without the advance written consent of the Lender. If a Default exists, the Borrower may not settle any insurance claim or condemnation proceeding without the advance written consent of the Lender.
Appears in 2 contracts
Samples: Deed of Trust, Security Agreement, Assignment of Leases and Rents and Fixture Filing (Sanfilippo John B & Son Inc), Mortgage, Security Agreement, Assignment of Leases and Rents, and Fixture Filing (Sanfilippo John B & Son Inc)
ADJUSTMENT AND COMPROMISE OF CLAIMS AND AWARDS. The Borrower may settle any insurance claim or condemnation proceeding if the effect of the casualty or the condemnation may be remedied for $50,000 60,000 or less. If a greater sum is required, the Borrower may not settle any such claim or proceeding without the advance written consent of the Lender. If a Default exists, the Borrower may not settle any insurance claim or condemnation proceeding without the advance written consent of the Lender.
Appears in 1 contract
Samples: Deed of Trust, Security Agreement and Fixture Filing (AmREIT, Inc.)
ADJUSTMENT AND COMPROMISE OF CLAIMS AND AWARDS. The Borrower may settle any insurance claim or condemnation proceeding if the effect of the casualty or the condemnation may be remedied for $50,000 150,000 or less. If a greater sum is required, the Borrower may not settle any such claim or proceeding without the advance written consent of the Lender. If a Default exists, the Borrower may not settle any insurance claim or condemnation proceeding without the advance written consent of the Lender.
Appears in 1 contract
Samples: Open End Mortgage Deed, Security Agreement and Fixture Filing (GTJ Reit, Inc.)
